The federal government could legalize marijuana in the [next five years](https://cheddar.com/videos/bill-weld-dominoes-are-falling-to-legalize-weed), said the former Massachusetts governor Bill Weld. Though, he said states should be able to decide the issue for themselves. "Once you can do research on it, the arguments against it are going to be increasingly slim," said Weld on Thursday in an interview with Cheddar. There are 29 states that allow medicinal use of cannabis, and nine states that have legalized recreational use of marijuana. "We'd like to see cannabis descheduled as a Class I narcotic in Washington so that states would be free to do what they want," said Weld. "Right now there's a rub between federal and state law enforcement." Weld and the former House Speaker John Boehner joined the board of the cannabis producer Acreage Holdings last week. Boehner had long been an opponent of legal marijuana, but Weld said his new colleague changed his mind because the public's perception of the drug had changed. For full interview, [click here](https://cheddar.com/videos/bill-weld-joins-acreage-board).

Share:
More In Business
Stretching Your Dollar: Managing Your Money After Fed Decision
As the country watches the financial situation and monitors decisions from the Federal Reserve, many may be re-evaluating what to do with their money, with interest and mortgage rates at some of the highest levels seen in decades. Mark Hamrick, Washington bureau chief and senior economic analyst with Bankrate, joined Cheddar News to provide tips on your money management as monetary policy continues to change.
Load More